Dangote Hikes Petrol Price by N75 to N1,275 Per Litre

The Aliko Dangote-owned Dangote Petroleum Refinery has increased the ex-depot price of petrol by N75 to N1,275 per litre, marking another adjustment in Nigeria’s volatile fuel market.

The latest price hike reflects a roughly 5 percent increase from the previous rate of N1,200 per litre, according to industry sources familiar with the development.

The refinery also raised diesel prices to N1,950 per litre, further tightening cost pressures on businesses and consumers across the country.

Sources within the refinery attributed the increase to prevailing global crude oil market conditions, including geopolitical tensions and rising operational costs.

“The adjustment is in line with global market trends, Petrol has been reviewed upward by N75 to N1,275 per litre,” a refinery official said.

The development underscores the continued influence of international oil benchmarks on domestic fuel pricing, despite Nigeria’s growing local refining capacity. Analysts note that fluctuations in crude oil prices and foreign exchange rates remain key drivers of fuel costs in the country.

The price increase is expected to have a ripple effect across the economy, particularly on transportation, logistics, and food prices, as marketers may adjust pump prices to reflect the new ex-depot rate.